Capital gains question
Capital gains question
We have our house up for sale here in Spain, its our main residence and we have no other property, we intend to move back to the UK, what will our capital gains tax be on the profit we make when sold, we are 67 and 62 yrs old.
Re: Capital gains question
Sure cid will confirm but if you have lived in it for the last three years as your full time house there is non. You are also over 65 which is another factory
Re: Capital gains question
Yes thanks elusive I knew that, what I am eluding to from what I have read is that if its your main residence in Spain and you buy again in UK and it will be your main residence there and you have no other property then as UK is still in the EEA then there is no capital gains tax to pay.
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- Andalucia Guru
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Re: Capital gains question
That's correct, but you may need to move quick if a No Deal Brexit happens.
Also, as one of you is over 65, their gain is exempt, leaving only half the gain liable.
Sid
Also, as one of you is over 65, their gain is exempt, leaving only half the gain liable.
Sid
Re: Capital gains question
Cheers Sid.
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- Resident
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Re: Capital gains question
Do make sure you get a certificate of fiscal residence from AEAT before the sale is completed, to avoid having 3% of the sale price retained against CGT liability and having to claim it back. In my experience the certificate takes at least 2 weeks to arrive once applied for, so don't leave it until the last minute.
Re: Capital gains question
Is this different to your fiscal tax certificates.
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